Singapore — Oil prices were mixed on Tuesday, pressured by concerns the escalating China-US trade dispute could slow the global economy, while US sanctions on crude exporters Iran and Venezuela helped keep the market on edge. Brent crude oil futures were at $71.28 a barrel at 4.43am GMT, 4c above their last close. US West Texas Intermediate (WTI) crude futures were at $62.44 a barrel, 18c, or 0.3% above their last settlement. Traders said prices were weighed by stalling trade talks between the US and China would weigh on global economic growth and dent fuel consumption. Talks between the world’s two biggest economies hit a wall at the weekend, when US President Donald Trump announced a raft of new import tariffs on Chinese goods. Tanker brokerage Eastport said in a note that “worsening trade friction between Washington and Beijing poses a downside risk to our forecasts” for petroleum products. On the supply side, oil markets remain tense as the US tightens sanctions on Iranian oil e...
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